ECC Approves Big Relief and New Rules for Vehicle Owners

Car import policy saw major changes on Tuesday as the Economic Coordination Committee (ECC) approved a new mechanism for importing vehicles. The decision came during a meeting chaired by Finance Minister Muhammad Aurangzeb, where members reviewed several economic matters.

According to the revised car import policy, the age limit for imported vehicles has been increased from two to three years. Imported vehicles will remain non-transferable for one year, and all units must meet updated commercial safety and environmental standards.

The ECC also approved an increase in margins for Oil Marketing Companies (OMCs) and petrol pump dealers. Their margins will rise by 5 to 10 percent, with half of the increase applied immediately and the rest linked to the digitalization process.

READ MORE: Sindh Govt to Launch Biogas-Powered Bus Service in Karachi

The committee further approved an additional Rs. 5 billion for the Housing and Works Division. It also granted preliminary approval for funds to cover pensions and medical expenses of the PIA Holding Company.

Officials stated that these steps are aimed at improving economic stability and ensuring long-term financial sustainability.